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Biotech / Medical : 2000-Year of the Biotechs! -- Ignore unavailable to you. Want to Upgrade?

To: Cheryl Galt who wrote (407)	2/27/2000 11:24:00 AM
From: Mike McFarland	Read Replies (1) \| Respond to of 1142

Plenty of media hype in biotech now--Biotechs were the lead article on CNN's Your Money this weekend. Matt Geller, a biotech analyst at CIBC World Markets commented on the biotech boom in the early '90s, but said something about 'exponential growth' now as biotechs have reached the point where they're putting out products. The closing sound bite portion of the spot went something like this: 'I think one of the really exciting things about biotech is that any can develop into an Amgen fairly quickly'. For the charts...the show gave IMNX and HGSI as big performers--even though they're 'only' about three baggers since October. Okay, here is my two cents for the day: I'd gone half cash several days ago, or maybe it was a week ago...anyway, I put that all back in the market on Friday and am up to a quarter big pharma with AVE (Aventis) and SGP, whoops, off topic, but it didn't make sense for me to stay 100% biotech anymore. Doesn't anyboy on SI follow Aventis, well here is the thread, which is just me and RWR so far: Subject 29515 Also on Friday, I did put some money back into KDUS and GZMO as those backed off from where I'd sold and I want to maintain a position in those, although I've certainly taken a lot of gains recently in those two. I moved ELN up to one of my larger positions--this one sure looks like a no brainer and I'll keep buying it. What is everybody else up to? I'm off about nine percent from my intraday high of a couple weeks ago, not too happy about that but stocks don't keep me up at night--the new baby does <g>. And still up over 700% for the year--but all the talking heads on teevee are making me nervous. That probably goes for all of us. Overall, I'd say biotech is going to stay hot, but I wouldn't want to own anything that I'm not willing to hold for a few years. Well, I suppose you can own something for a few hours here and there, but that timescale is a little too short for me.